Month: July 2026

Positions: None.

While I don’t think this initiative has a material meaning or consequence, it probably contributed to some confusion and likely took cannabis stocks lower late Thursday.

I was an aggressive buyer (as previously noted) in the correction:

Massachusetts Initiative To Roll Back Marijuana Legalization Officially Qualifies For November Ballot – Marijuana Moment

Position: Long MSOS VL 

* Whoa Nelly!

Here is a terrific chart which graphically shows how much share of the stock market technology has risen over the last three decades:

Positions: None.

🚨THIS HAS NEVER HAPPENED THIS CENTURY:

The correlation between the S&P 500 equal-weighted index and the S&P 500 itself has dropped to ~78%, its lowest level on record.

This is happening because a small group of mega-cap stocks continue to dominate the index.

The 10 largest… pic.twitter.com/EUtczefULa

— Global Markets Investor (@GlobalMktObserv) July 9, 2026

Positions: None.

Upside:

-WDFC +16% (earnings, guidance)

-EQPT +12% (raises guidance and announces buyback program)

-CRCL +11% (receives OCC approval to establish First National Digital Currency Bank)

-CCC +9.5% (considering sale and hires Morgan Stanley as advisor)

-PERF +9.2% (enters going-private merger agreement at $2.00/shr cash)

-SEI +4.8% (to replace CPRX in the S&P SmallCap 600 Index)

-TWLO +2.6% (Stifel Nicolaus Raised TWLO to Buy from Hold, price target: $260)

-UUUU +2.5% (insider buys)

Downside:

-SILO -20% (prices private placement of 620.0K shares at $6.452/shr with warrants)

-FRMI -13% (prices upsized $375M 5.00% convertible senior notes due 2031)

-BKD -5.6% (reports June operating metrics including occupancy)

-SXT -3.7% (Holder reportedly said to be offering 2.05M shares at $114-116/share worth $237.7M in block trade)

Positions: None.

* With head cheerleader Drawdown Josh Brown, Fin TV, emboldened by relative and absolute price action, are now universally bullish on Apple (see my comments below) 

* One I agree with… (we shorted APPL in the premarket at $315)

From Felix Wang (the analytical obstetrician and mortician on Apple!) at Hedgeye:

Felix Wang called the iPhone super cycle when no one else would. $AAPL is up +18.8% since he went long in Oct. 2025.

Now he's flipping from Long to Short.

The super cycle he called is breaking, and he sees -23% downside from here.

See why👇

— Hedgeye (@Hedgeye) July 9, 2026

My comments from three days ago:

Apple… Sis Boom Huh?

https://pro.thestreet.com/dougs-daily-diary/2026-07-08#apple-sis-boom-huh-1783509301

Positions: Short AAPL VS